The IRS publishes updated inflationary numbers once in a while, and here are the relevant ones that we cover in our website:

  1. $171,000 — Code § 877(a)(2)(A) — The average annual net income tax that must be imposed for the five taxable years ending before the date of the loss of United States citizenship (or cessation of long-term permanent residency) for an individual to be considered a “covered expatriate” under Code § 877A(g)(1). This amount is up from $168,000 in 2019.
  2. $737,000 — Code § 877A(a)(1) — The amount that can be excluded from the mark-to-market gain upon expatriation of a covered expatriate. This amount is up from $725,000 in 2019.
  3. $107,600 — Code § 911(b)(2)(D)(i) — Foreign earned income exclusion. This amount is up from $105,900 in 2019.
  4. $15,000 — Code § 2503 — The amount of the annual gift tax exclusion for gifts to any person. This amount is the same as in 2019.
  5. $157,000 — Code § 2523(i) — The amount of the annual gift tax exclusion for gifts to non-citizen spouses. This amount is up from $155,000 in 2019.
  6. $16,649 — Code § 6039F — Notice of large gifts received from foreign persons. This amount is up from $16,388 in 2019.

If you don’t trust us, here it is from the horse’s mouth: https://www.irs.gov/pub/irs-drop/rp-19-44.pdf